Chevron focuses on expansion in high growth sectors - petrochemicals, additives, and lubricants

23-Dec-16

Chevron is focusing on expanding in high growth sectors such as petrochemicals, additives, and lubricants. By 2018, the company expects to increase the capital employed in its Chemicals and Lubricants segment to 42%, compared to 35% in 2015.
Chevron is also focusing on the integration of refining and petrochemical complexes at various sites to increase operational synergies and benefits, as well as expand its petrochemical capacity and spread with some of its major ongoing projects. Chevron’s carboxylate addition project, located in Singapore and expected to be completed in 2017, is expected to double its worldwide lubricant capacity. Chevron’s other petrochemical project, which includes the construction of ethylene and polyethylene facilities in Texas, is approximately 80% complete. The project is expected to start up by 2017.

(Source Courtesy: Michelle Rey in marketrealist.com)